France cancels debt of Congo Brazzaville
28 July 2010
France has decided to cancel the entire debt of Congo Brazzaville, which is over 831 million dollars, reports the AFP press agency.
"This agreement will allow us to finance projects relating to the infrastructures for water, sewerage and transport, education and vocational training, environmental and health protection", explained the French ambassador to Brazzaville, Mr. Jean-François Valette, at the signature of the agreement on 19 July.
Its neighbour, the Democratic Republic of the Congo, in turn received a donation from the World Bank of 255 million dollars, also for infrastructure projects.
The main aim is to renovate transport infrastructures throughout the country, in order to stimulate trade and economic growth.
This funding will also enable the Société nationale des chemins de fer du Congo (SNCC), the Congolese railway company, to return to financial probity and operational stability.